Reported about 1 year ago
National Association of Realtors Chief Economist Lawrence Yun predicts that mortgage rates will move prior to the Federal Reserve decision on a rate cut, advising consumers to keep an eye on mortgage rates and take advantage of discounts if the right property comes on the market. The latest existing-home sales data for May shows a 0.7% decline, with record median home prices. Yun highlights that a rate cut could lead to more buyers and sellers entering the market, impacting demand and prices. This insight emphasizes the influence of interest rates on the housing market dynamics.
Source: YAHOO